Plant food production generates a lot of by-products (BPs). These BPs are majorly discarded into the environment, polluting it, or into landfills where they just decompose, providing no benefit and taking up storage space, causing financial costs. These plant BPs are biodegradable, but reusing them may provide a better outcome and profit. The vast majority of plant-based food BPs are polysaccharide polymers like gums, lignin, cellulose, and their derivatives. It is possible to utilize plant food production waste, like banana peels, leaves, pseudostems, and inflorescences, to produce bioethanol, single-cell protein, cellulase, citric acid, lactic acid, amylase, cosmetics, fodder additives, fertilizers, biodegradable fibers, sanitary pads, bio-films, pulp and paper, natural fiber-based composites, bio-sorbents, bio-plastic, and bio-electricity in the agro-industry, pharmaceutical, bio-medical, and bio-engineering fields. Moreover, the use of banana BPs seems to be a way of dealing with many issues in underdeveloped countries, providing a clean and ecological solution. The suggested idea might not only reduce the use of plastic but also mitigate waste pollution.